The petrochemicals segment contracts in Asia-Pacific registered a decrease of 33% with four contracts in October 2022, when compared with the previous month’s total of six contracts, according to GlobalData’s oil and gas contracts database.

A total of four contracts were registered in the petrochemicals segment of Asia-Pacific during the month, when compared with the last 12-month moving average of 13 contracts.


In terms of the number of contracts in Asia-Pacific, the upstream segment contributed the most with 43 contracts in October 2022, followed by midstream and petrochemicals segments with 41 and four contracts, respectively.


Contract award activity in Asia-Pacific’s petrochemicals segment during October 2022

In October 2022, China led the activity with three contracts and a 75% share of the petrochemicals oil and gas contracts in Asia-Pacific. It saw a flat growth over the previous month’s total of three contracts and a decrease of 50% when compared with the last 12 month-average of six contracts in China.

In second place was Thailand with one contract and a 25% share.

Based on 12-month moving average of the contracts in the petrochemicals segment of Asia-Pacific, China took the top spot with seven contracts, followed by India and Australia with two and one contract, respectively.

Contracts by scope of work in Asia-Pacific’s petrochemicals segment during October 2022

During the month, the majority of petrochemicals segment contracts awarded in the Asia-Pacific were in the construction and design & engineering with two contracts each, followed by installation with one contract.

Methodology

All publicly announced contracts are included in this analysis, which is drawn from GlobalData’s oil and gas contracts database that provides insights into awarded and expired contracts globally.

More in-depth reports and analysis on all reported contracts are available for subscribers to GlobalData’s oil and gas database.